Bayesian Capital Management LP Sells 4,500 Shares of Magnolia Oil & Gas Co. (NYSE:MGY)

Bayesian Capital Management LP decreased its holdings in Magnolia Oil & Gas Co. (NYSE:MGY) by 11.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,721 shares of the company’s stock after selling 4,500 shares during the period. Bayesian Capital Management LP’s holdings in Magnolia Oil & Gas were worth $927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mather Group LLC. bought a new position in shares of Magnolia Oil & Gas during the first quarter valued at about $27,000. Private Wealth Management Group LLC purchased a new stake in Magnolia Oil & Gas during the 4th quarter valued at about $33,000. Lindbrook Capital LLC grew its position in Magnolia Oil & Gas by 61.5% during the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the company’s stock worth $43,000 after acquiring an additional 627 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Magnolia Oil & Gas in the 1st quarter worth approximately $50,000. Finally, Quadrant Capital Group LLC lifted its position in Magnolia Oil & Gas by 40.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,623 shares of the company’s stock valued at $98,000 after purchasing an additional 1,331 shares during the last quarter. Institutional investors own 94.73% of the company’s stock.

Insider Activity at Magnolia Oil & Gas

In other news, Director John B. Walker sold 12,000,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.58, for a total value of $306,960,000.00. Following the sale, the director now directly owns 4,164,961 shares of the company’s stock, valued at $106,539,702.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by corporate insiders.

Magnolia Oil & Gas Stock Up 1.8 %

MGY traded up $0.48 during trading on Wednesday, reaching $27.08. The stock had a trading volume of 18,489 shares, compared to its average volume of 2,741,214. Magnolia Oil & Gas Co. has a one year low of $19.16 and a one year high of $27.62. The company has a market capitalization of $5.49 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.98 and a beta of 2.02. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21. The stock’s 50 day moving average is $25.43 and its two-hundred day moving average is $24.30.

Magnolia Oil & Gas (NYSE:MGY) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $319.42 million during the quarter, compared to analysts’ expectations of $308.21 million. Magnolia Oil & Gas had a net margin of 30.46% and a return on equity of 20.41%. As a group, analysts expect that Magnolia Oil & Gas Co. will post 2.2 earnings per share for the current year.

Magnolia Oil & Gas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.13 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.52 annualized dividend and a dividend yield of 1.92%. Magnolia Oil & Gas’s payout ratio is currently 25.87%.

Analyst Ratings Changes

A number of equities research analysts recently commented on MGY shares. Citigroup upped their price target on shares of Magnolia Oil & Gas from $18.00 to $22.00 and gave the company a “sell” rating in a report on Monday, April 15th. Wolfe Research assumed coverage on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. They set an “outperform” rating and a $32.00 target price for the company. Truist Financial reduced their price target on Magnolia Oil & Gas from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Benchmark reiterated a “hold” rating on shares of Magnolia Oil & Gas in a report on Thursday, July 18th. Finally, Wells Fargo & Company boosted their target price on Magnolia Oil & Gas from $23.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $29.00.

About Magnolia Oil & Gas

Magnolia Oil & Gas Corporation, an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids reserves in the United States. Its properties are located primarily in Karnes County and the Giddings area in South Texas principally comprising the Eagle Ford Shale and the Austin Chalk formation.